Heritage Bank’s head of Agric, Finance and Export, Mr Olugbenga Awe said the out-growers scheme would enable 45 farmers to come together to form four co-operatives groups with about 150 hectares to work on.

The scheme would be governed by BPL and its partners PZ Wilmar Limited.

BPL is based in Cross River State and is a subsidiary of PZ-Wilmar, which is based in Singapore.

BPL general manager Ahmad Mustaffa Goh said the deal with Heritage Bank was a milestone and would boost the Nigerian economy, create jobs and empower local farmers.

Mr Goh said the aim of the scheme was to develop sustainable practices that would ultimately increase production.

It has always been our priority to improve the socio-economic status of our landlord communities by developing an out-growers scheme that will build the resilience of local farmers to changing agricultural trend,” he said.